EDI PROCST Project cost reporting message

The Project cost reporting message is used in various industrysectors when there is a requirement for all parties involved ina project to formally establish and exchange budget baseline,actual, progress, and estimate to complete cost information;technical performance measurement information; and relatedfunding information. This information exchange is typicallygoing from a contractor performing the work to the endcustomer. The purpose of this information exchange is to provide the endcustomer with data that describes the work that must becompleted, who is doing the work, and establishes the costbudget baseline for the project. This information exchange alsoprovides data that describes how the work is progressingagainst the cost baseline to determine if the project willcomplete on time and within budget. The work in processmeasurement data provides key management information to ensurethe project is progressing as planned and highlights anyproblem areas that need correcting. Technical performancemeasurement data is used to determine if the project is meetingspecific design or functional objectives. Periodic funding datareporting is used to track future funding requirements for thework in process.